Current Financial Climate - whats the implications on MR2 owning?

[Racer7]

Hello,

Just had a PM from another member on here and it kind of re-sparked my search for 'the' MR2 for me.

Was looking at Rev4/5 Turbo with low mileage. The only reason I stopped looking was because of the stories I read of MR2s in Winter weather.

With all the credit crisis stuff going on at the moment I do wonder though, is now the best time to buy - i.e. is it a buyers market with dealers/owners finding it harder to shift their motors?

The one issue I see now for me would be importing - simply due to Sterling/Yen rates.

Are there any dealers/traders who can advise? I don't know whether to start looking again or just wait til Spring.

All help welcome!

[Lewis Jay]

Buy now a mint Rev 4 tubby went for £4K on here not so long ago, dont think you will get cheaper than now.

MR2 prices will go back up as fuel prices drop and spring comes around they always do.

If you are worried about weather and wrappin it, then buy now and garage it till spring.

[chron]

i think now is the time to buy anything really if you have the funds!

[dawolf]

No-one can say for sure. Yes prices are currently low but they could potentially drop further next year. I'm talking cars in general though, the MR2 shouldn't drop too much due to it's age and being pre-2001 it won't be hit hard for tax.

[korean]

like most owners clubs, this is like no other, an MR2 is just another car, and will depreciate as such. most are artifically over priced anyway. when you see people trying to sell J and K reg etc. these tend to be high mileage and worn out. due to being 17 years old.

just my thoughts.

[fearless]

ouch hurt my feelings buddy my j plate has 136000 miles on the clock and still runs like a dream engine is so quiet aswell, must admit its a buyers market

[steve b]

i think now is the time to buy anything really if you have the funds!

Exactly, MR2 will take a hammering like everything else as now is the time for those who were saving for a new car as things they though out of reach a few months ago are now in reach.

Even if you really want an MR2, you'd now look at get something much younger or better spec'd but no pay for it, at times like these there will always be people who have bought a car and only just been able to afford it but now cannot through loss of job etc so are desperate to get rid at whatever price.

[Caribbean_Blue]

Id say spend nothing on your cars. The financial crisis will last a while yet. Save while you can.

[korean]

ouch hurt my feelings buddy my j plate has 136000 miles on the clock and still runs like a dream engine is so quiet aswell, must admit its a buyers market

nothing personal mr Biker

[Leon.]

Id say spend nothing on your cars. The financial crisis will last a while yet. Save while you can.

Agree, just don't forget your servicing! A great chance for those who don't normally do it themselves to give it a go to save some dough

[skinthespin]

I think things are not going to be too bad for too long, mortgages are already on the up, as in this month was the first increase in new mortgages for a year, I think the money from the Governments is just starting to filter through, after all £500 billion is a lot and there are many very clever guys who know more about it than us putting that money in, and they wouldn't do that if it wasn't going to help.

Now is a great time to buy a car, stuff is so cheap!

[Kongaroo]

I think things are not going to be too bad for too long,

I wouldn't bet on it...

Anyway money from the Government = taxpayer money = almost certainly higher future taxes after the next general election.

Although now might not be such a bad time if you are thinking of importing simply because the pound is likely to get even weaker in the near future - especially with the morons we have running the country at the moment

[Olly P]

Implications of owning an MR2?! None, it's a £4k car not a £160,000 lambo.

[ashley]

If you've got the cash spare and are planning to buy at some point anyway, I reckon now is the time to get the most for your money.

It's a shame it probably means someone else is losing out having to sell their pride and joy for less than it's worth in times of difficulty though.

[Racer7]

Implications of owning an MR2?! None, it's a £4k car not a £160,000 lambo.

True, true.

But frivalous spending is what has gotten people up sh!t creek in the 1st place! (of course not forgetting the banks - but thats a whole other topic!)

I guess I'll start looking then.

Whats a good mileage vs price vs year to look out for (N/A rev3/4 UK)? £2000 spend (as the UK spec would be short term (1 or 2years)

Ball park would help me have a guage for knowing a good buy vs a less kosher one.

Ta!

[Leon.]

If I'm honest chap, I'd say its best for you to figure that out by keeping an eye out on pistonheads, autotrader, here, etc. You'll soon figure out what is a good buy and what isn't. I'm sure you could get a rev 3 N/A for that money...

[Racer7]

If I'm honest chap, I'd say its best for you to figure that out by keeping an eye out on pistonheads, autotrader, here, etc. You'll soon figure out what is a good buy and what isn't. I'm sure you could get a rev 3 N/A for that money...

Yeh, cheers fella. Already been scouting pistonheads, ebay etc.

Just wondering though - what is too high a mileage on an MR2? I'm thinking I need to looking at 80k and under?

Lots of nice Rev 4s that I see for a good price have 112k on the clock with like 4/5 previous owners. Are these the so called lemons?

Cheers for all the tips thus far!

[h3_5xy_j]

well, i have 103K on the clocks of my rev1 n\a, and she still pulls like a train. as long as they have a full service history and have been well looked after, the 3sge should be good to 200k+

[Racer7]

well, i have 103K on the clocks of my rev1 n\a, and she still pulls like a train. as long as they have a full service history and have been well looked after, the 3sge should be good to 200k+

I'm looking at something like this. Now I'm guess the images and description are far too vague to ascertain if this is a good buy.

http://www.pistonheads.com/sales/759842.htm

Money wise £2.5k sound like a good (perhaps too good????) for a 98 car.

[Mikey P MR2]

Price seems average for current market, might as well get as late as car and lowest miles you can for your budget but as said mr2’s if well serviced will be good for loads of miles, two of mine had over 130k and were both fine. I would however expect to pay a few hundred less for a higher milage car (over 100k) to reflect extra maintenance that’s likely to be required. Try and pick a car that just had a cambelt and clutch done if poss as these are both £200 plus jobs.

Given for many a 2 seater car is a luxury and oftern 2nd car/weekend toy. I think prices will fall over the next year or so as the credit crunch takes it toll. However winters still a good time to get a good deal, but don’t expect it maintain its value.